Sector Update: Consumer Stocks Decline Late Afternoon
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Consumer stocks declined late Wednesday, with the State Street Consumer Staples ETF down 1.2% and the Consumer Discretionary ETF down 0.5%. Mondelez (MDLZ) faced mixed sentiments regarding its Q4 results, with shares down 2.5%. VF Corp (VFC) reported a decline in core earnings, leading to a 7% drop in shares. Amazon (AMZN) announced plans to cut 16,000 jobs, with shares down 0.6%. In contrast, Sleep Number (SNBR) shares rose over 7% after announcing a partnership with Travis Kelce for advertising.
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